Top Trending Stock: Jindal Saw’s share has jumped 15 percent in three days, know where the price can reach – top trending stock jindal saw ltd jumped over five percent today
Mumbai: The domestic stock market showed a mixed trend in early trade today. Good quality stocks are seeing good growth in the broader market. It has one share in Jindal Saw Ltd. Investors are showing good interest in this. Due to this, the stock rallied over five per cent to reach Rs 177 on the NSE, its 52-week high. Technically, the stock has broken out of 84 week cup pattern with heavy volume. Its weekly volumes are above average and there is strong buying interest among all market participants. On the daily chart, the stock has taken support from the daily moving average since last 20 days and has rallied around 15% in the last three days.
Interestingly, its technical parameters are in the super bullish zone, indicating further upside in the stock. Its 14-day period daily RSI (72.79) is in the super bullish zone. Its MACD has given a bullish crossover which shows positive sentiment about the stock. Other momentum oscillators and technical parameters are also in favor of the positive price action of the stock. Overall, this stock can attract more and more traders in the coming days. Its next resistance lies at Rs 182, after which it can move towards Rs 190. Meanwhile, its immediate support lies at Rs.157 level. Momentum traders should keep a close watch on this stock in coming days. This article is powered by Dalal Street Investment Journal, India’s No. 1 Investment Magazine. Click here to get regular updates about Winning Stocks and Recommendations.
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